Dictionary

Compensation: the amount of money determined within the guarantee ceiling, that a deposit guarantee scheme should pay to a guarantee depositor for the unavailable deposits with a bank

guarantee ceiling: the maximum level of coverage per guaranteed depositors, per bank

joint account: an account opened in the name of two or more persons or an account over which two or more persons have rights and in which operations can be made based on the signature of at least one of these persons

depositor: the holder or, in the case of a joint account, each of the holders of a deposit;

guaranteed depositor: the holder of an eligible deposit or, in the case of a joint account, the holders of an eligible deposit or, as the case may be, the person entitled to amounts from an eligible deposit;

deposit: any credit balance, including the due interest, which results from funds left in an account or from temporary situations deriving from normal banking transactions and which a credit institution must repay in the legal and contractual conditions applicable, including term deposits and savings deposits;

covered deposit: the part of eligible deposits which does not exceed the guarantee ceiling;

eligible deposits: deposits that are not excluded from the scope of guarantee;

unavailable deposit: the deposit that is due and payable but has not been paid by a credit institution, according to applicable legal and contractual conditions;

contribution: the due and not repayable amount paid by member credit institutions;

credit institution: organization whose goal is to attract deposits and other funds from the public and to independently give credits and loans; in the area of interest of FGDB law, in the case of a credit cooperative network, the central body is considered the credit institution;

credit institutions licensed by the Central Bank of Romania: the Romanian legal person credit institutions and the branches of foreign banks outside the European Union;

branches of credit institutions legal persons from other countries within the European Union: credit institutions which operate in Romania whose central body is located in other countries of the European Union; deposits with these banks are guaranteed under the law from the state of origin.